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The transition in China as its cuts overcapacity in steel and other heavy industry- closing of the Pagchenggang steel factory in Chengdu

09/08/2015

The Chengdu Iron and Steel factory was started in 1958 as China began its first efforts at industrialization under Mao's Communist China. It finally closed in 2015, as China moved to close older less efficient polluting facilities first, under an overall plan to cut overcapacity in steel and other sectors. Workers laid off get 2 years of payment of about 1500 yuan or $235 per month, and are required to take retraining classes. Older workers get buyouts.

Grouped Articles

China’s Shift Away From Industry Drains Life From a Steel Town

Wall Street Journal 09.08.2015

U.S. Imposes 266% Duty on Some Chinese Steel Imports

Wall Street Journal 03.02.2016

How China Built a Steel Behemoth and Convulsed World Trade

WSJ 12.24.2018


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